The Office of the National Water Resources has confirmed that there is sufficient water supply for water management this year, even though the Meteorological Department forecasts that El Niño will intensify to a very strong level from October to December 2026. The four main dams in the Chao Phraya River Basin had a combined usable water volume of 17.245 billion cubic meters as of November 1, 2025, which is higher than the 4.247 billion cubic meters recorded during the El Niño period in 2015. It is projected that as of November 1, 2026, the usable water volume will be 12.105 billion cubic meters. The ONWR has also instructed all agencies to prepare without complacency, especially in areas outside irrigation zones, while urging farmers to cultivate according to plans and calling on all sectors to conserve water. At the same time, it has ordered inspections of waterway obstructions to improve drainage efficiency in line with measures for the 2026 rainy season.
Galliford Try Fair Value Raised to £7.54 on Lower Risk and Margin Views
Analysts lifted their fair value estimate for Galliford Try Holdings to £7.54 per share from £6.52, citing updated views on risk around future cash flows and the company's scope to deliver on its plans. The revised model keeps the revenue growth assumption unchanged at 4.01% while raising the net profit margin assumption to 2.49% from 2.14%. The future P/E assumption moved to 18.52x from 18.93x, and the discount rate eased to 9.53% from 9.61%. Cautious analysts note the higher fair value still rests on assumptions about cash flow timing and project delivery, warning that any slip in execution could leave the stock exposed if the market has already priced in much of the revised value. The narrative also folds in expansion into energy and capital maintenance markets, particularly water and wastewater treatment, alongside a reentry into the affordable homes market using modern methods of construction.
RBC Downgrades Mueller Water to Underperform on Municipal Spending Slowdown
RBC Capital downgraded Mueller Water Products to Underperform from Sector Perform and cut its price target to $21 from $30, sending shares down 3.2% in Thursday's trading. Analyst Jeffrey Reive said the consensus expectation for 4% FY 2027 revenue growth does not reflect the combined headwinds of fading federal stimulus, hydrant backlog normalization, and ongoing residential softness. Reive considers Mueller one of the most exposed stocks in RBC's coverage to a slowdown in municipal water spending, since its core valve and hydrant business is tied to municipal project activity and funding availability, and he believes it lacks the structural buffer against near-term funding shifts that peers such as Badger Meter or Veralto possess. He said his concern is not with execution but with expected pressure from a falloff in federal stimulus that is fully reflected in consensus estimates, adding that the hydrant backlog workdown supporting FY 2026 revenue growth is unlikely to repeat, which he sees as a $35M headwind with limited offsets as residential construction still tries to find a bottom.
CenterPoint Energy Replaces US$2.40 Billion Credit Facility With US$2.20 Billion Five-Year Revolver
CenterPoint Energy, Inc. replaced its prior US$2.40 billion unsecured revolving credit facility with a new five-year senior unsecured revolving credit facility of US$2.20 billion in September 2026. The new facility includes swingline loan and standby letter of credit subfacilities, extendable maturities, and a covenant capping the company's debt-to-capitalization ratio at 67.5%. It also carries a built-in covenant adjustment that temporarily allows higher leverage if large, securitizable natural-disaster restoration costs arise in its service territory. The refreshed facility modestly tightens leverage capacity while adding disaster-related flexibility, and the company also completed Phase Two of the Greater Houston Resiliency Initiative. CenterPoint Energy's narrative projects $11.4 billion in revenue and $1.6 billion in earnings by 2029, with a $46.12 fair value estimate implying 20% upside.